Three effective steps to become a successful price action trader

[adamsmiths]

Price action trading is very much popular among all levels of traders. Starting from the professional ending with the novice, all are a big fan of price action trading. This trading system is extremely simple and reliable and the expert in Switzerland uses this system to execute the high-quality trade. But when you use the price action confirmation signal you need to trade the key support and resistance level. Some of the new traders often trade the minor support and resistance level and thus they lose a big amount of money. In order to avoid such scenario, it is highly imperative that you learn this trading system by using a demo account. When you use the demo account you can trade as much as you want since you will not lose any real money. Some professional consider it as the best way to develop a trading strategy. Though many people want to become a successful price action trader but very few can actually master this skill. But don’t worry. We will give you three amazing tips which will help you to truly master the price action trading skills.

 

Knowledge is the key to success

No matter which trading strategy you use, there is no guarantee that you will make profit consistently. In order to do so, you need to have a very clear knowledge about the financial market. Most of us tend to take trading as lightly. At your initial stage, you need to read as much book as you can since this is one of the best ways to develop your trading knowledge. The successful traders still read books and articles on a regular basis even though they know that they can trade profitably.IN order to become a full-time trader you need to develop a strong reading habit as it will guide you to enhance your trading performance and let you know about the real market movements. At your initial stage if you lose money then don’t get upset as it is a part of the trader's career. Always focus on proper education and it will guide you towards the door of success.

 

Use Fibonacci retracement tools

The professional price action traders are always the advanced traders in the society. They don’t trade the support and resistance only rather they use some useful tools to make sure they make a profit in the forex trading industry. Fibonacci retracement tools are one of the best tools that you can find in today’s trading world. It allows the traders to trade in favor of the long term trading. But you should not trade all the Fibonacci retracement levels rather trade the 38.2%, 50% and 61.8% retracement levels. These are the most prominent levels as the market tends to respect this level very often.

 

Use the moving average

The 100-day moving average is very much popular among expert traders. It gives the dynamic support and resistance level to the trades. As a price action trader, you need to use it as your sweet trading spot. Instead of placing pending orders at the dynamic support and resistance level you need to wait for price action confirmation signal. However, some of the advanced traders often set pending orders which are very risky and requires strong knowledge about market sentiment analysis. Though the 100-day moving average is one of the most popular indicators some professional traders prefer to use the 200 SMA to trade the live assets using price action confirmation signal. But when you place your trade make sure that you are following proper trading discipline.

[Bill Lawry]

I completely agree with your first opinion. Knowledge is the only way to become successful in this trading business. Without proper knowledge you can not predict the market properly. But I really don’t prefer using indicators for trading. I can’t rely on them for my trading. For me the other two should be risk management and choosing right broker. That’s why I choose AAFX for my trading which gives me a wonderful trading environment.

[Mehraj Hossain]

Since price action trading is an approach to pricepredictions and speculation, it is used by retail traders, speculators, arbitrageurs and even trading firms who employ traders. It can be used on a wide range of securities including equities, bonds, forex, commodities, derivatives, etc. As a price action trader I have selected Trade12 broker from which I have all trading friendly facilities including the fluent platform for trading like price action.

[sakura]

FXB Trading is regarded as the best ECN broker for CFD traders. It offers an easy STP/ECN trading environment. It also gives traders a direct access to live pricing, allowing them an edge so that are profitable in the CFD market

[Marcho]

Broker is very important thing to a trader. It is the best support that a trader need in his trading. My broker is Circle Markets. They are very transparent with their activities. Their strongest security policy makes me feel quite secure that I don’t need to worry about my fund. I am very comfortable with them as they allowing me for scalping which is very supportive to make profit in short time.

[sakura]

FXB Trading undoubtedly ranks among the top level brokerages that offer trading platforms in the CFD market. I can say for myself that this website has fulfilled all my trading goals, unerringly. I have had immense success with all of my accounts, particularly as a result of the help I got out of the tools from this website such as the Daily Outlook

[Horace Whitehead]

To be  a professional trader a person should be able to understand the proper price action associated with it. I have tried hundreds of strategies, robots and proper trading course to take care with. I have finally learned to trade price action trading by going to a perfect broker. There are hundreds of scam brokers who offers you educational materials which are nothing more than any beginners course. 

I am currently trading with FreshForex broker who provided me with the most comprehensive price action trading guide and with their help and support I have came to know proper understanding about the price action context here. 

[sakura]

The secret of success behind CFD trading is the speculation that traders make on various securities and currency pairs. It is important that merchants get a platform where they can check accurate data. FXB Trading offers real time information that allows traders to predict successfully when it comes to shifting and trending in the CFD market.